Afraid your ailing A/C unit may not last till fall? Have you been putting off replacing it because of financial concerns? Federal energy tax credits can help ease the financial burden. They will save you money at tax time, and you’ll continue to save money year-round with a new energy-efficient A/C. These credits expire at the end of 2013, so now is the perfect time to act.
The tax credit is part of the federal Energy Star Program that offers consumers an incentive to replace their old HVAC equipment with new, more energy-efficient equipment. The credit provides 10 percent of the cost up to $500 or a specific amount from $50 to $300, depending on the type of equipment installed. Only new units installed in existing homes qualify; new homes and rental properties are not eligible for the credits.
In order to qualify for the tax credit, new equipment must meet certain energy efficiency standards. Central air systems must have a Seasonal Energy Efficiency Ratio (SEER) of 13 for split systems and 14 for package systems. These ratings were designed to save consumers money and to reduce greenhouse emissions.
To apply for the credit, you must file IRS tax form 5695. Also be sure to hold on to the receipts for your new equipment as well as the Manufacturer’s Certification Statement. To be sure that you have taken all the steps necessary to qualify for the credit, you should speak to a professional with experience installing Energy Star equipment.
Don’t wait until your A/C fails to replace it. Contact us at Joplin’s Air Conditioning and Heating to find out how you can qualify for energy tax credits. Our team has been serving North Dallas and the McKinney area for 35 years and is dedicated to finding solutions to all of your HVAC needs.
